Theragen Etex (Korea) Market Value
| 066700 Stock | KRW 3,205 70.00 2.23% |
| Symbol | Theragen |
Theragen Etex 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Theragen Etex's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Theragen Etex.
| 11/19/2023 |
| 12/13/2024 |
If you would invest 0.00 in Theragen Etex on November 19, 2023 and sell it all today you would earn a total of 0.00 from holding Theragen Etex CoLtd or generate 0.0% return on investment in Theragen Etex over 390 days. Theragen Etex is related to or competes with Samsung Electronics, Samsung Electronics, SK Hynix, SK Holdings, POSCO Holdings, Hyundai, and Hyundai. ,Ltd., together with its subsidiaries, engages in the research and development, production, and sale of pharmaceutical p... More
Theragen Etex Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Theragen Etex's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Theragen Etex CoLtd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 10.97 | |||
| Value At Risk | (3.46) | |||
| Potential Upside | 4.15 |
Theragen Etex Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Theragen Etex's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Theragen Etex's standard deviation. In reality, there are many statistical measures that can use Theragen Etex historical prices to predict the future Theragen Etex's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | (1.27) |
Theragen Etex CoLtd Backtested Returns
Theragen Etex CoLtd owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0613, which indicates the firm had a -0.0613% return per unit of risk over the last 3 months. Theragen Etex CoLtd exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Theragen Etex's Risk Adjusted Performance of (0.04), variance of 4.63, and Coefficient Of Variation of (1,531) to confirm the risk estimate we provide. The entity has a beta of 0.12, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Theragen Etex's returns are expected to increase less than the market. However, during the bear market, the loss of holding Theragen Etex is expected to be smaller as well. At this point, Theragen Etex CoLtd has a negative expected return of -0.13%. Please make sure to validate Theragen Etex's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Theragen Etex CoLtd performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.51 |
Modest predictability
Theragen Etex CoLtd has modest predictability. Overlapping area represents the amount of predictability between Theragen Etex time series from 19th of November 2023 to 1st of June 2024 and 1st of June 2024 to 13th of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Theragen Etex CoLtd price movement. The serial correlation of 0.51 indicates that about 51.0% of current Theragen Etex price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 62.4 K |
Theragen Etex CoLtd lagged returns against current returns
Autocorrelation, which is Theragen Etex stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Theragen Etex's stock expected returns. We can calculate the autocorrelation of Theragen Etex returns to help us make a trade decision. For example, suppose you find that Theragen Etex has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Theragen Etex regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Theragen Etex stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Theragen Etex stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Theragen Etex stock over time.
Current vs Lagged Prices |
| Timeline |
Theragen Etex Lagged Returns
When evaluating Theragen Etex's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Theragen Etex stock have on its future price. Theragen Etex autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Theragen Etex autocorrelation shows the relationship between Theragen Etex stock current value and its past values and can show if there is a momentum factor associated with investing in Theragen Etex CoLtd.
Regressed Prices |
| Timeline |
Pair Trading with Theragen Etex
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Theragen Etex position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Theragen Etex will appreciate offsetting losses from the drop in the long position's value.Moving together with Theragen Stock
The ability to find closely correlated positions to Theragen Etex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Theragen Etex when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Theragen Etex - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Theragen Etex CoLtd to buy it.
The correlation of Theragen Etex is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Theragen Etex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Theragen Etex CoLtd moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Theragen Etex can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Theragen Stock
Theragen Etex financial ratios help investors to determine whether Theragen Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Theragen with respect to the benefits of owning Theragen Etex security.